Cabinet approves supply of iron ore to Japan and South Korea
The government has renewed the long term agreements for supply of iron ore to Japan and South Korea through MMTC Limited
BS B2B Bureau B2B Connect | New Delhi
The quantities covered under the agreement will be in the range of 3.8 million tonnes to 5.5 million tonnes per year, and will be supplied primarily from the mines of the National Mineral Development Corporation (NMDC). The contract will be executed by the Metals and Minerals Trading Corporation of India Limited (MMTC) under the Department of Commerce.
Iron ore of higher grade have been supplied by India to Japan and South Korea under long term agreements during the last four to five decades. “These agreements will help continue this relationship and strengthen Indo-Japanese collaboration in several areas of mutual interest, including technology transfer, joint venture, investment, etc. The agreement will also help utilise surplus production of iron ore currently available in India,” said the government in a press release.
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First Published: Jun 26 2015 | 5:25 PM IST